News Catcher Pro EA is an automated trading strategy that analyzes intraday seasonal volatility patterns caused by high-impact news events. It was first published 13 March, 2022.
About News Catcher Pro EA
News Catcher Pro was developed by Valeriia Mishchenko. It was lastly updated by the vendor to version 2.18 on 27 March, 2022.
The robot costs about $699 to purchase a full license. There is no rental options available. The vendor claimed that price will be kept high to lower the number of users for this system.
The News Catcher Pro does not trade frequently.
Should someone trust News Catcher Pro
- The robot has a backtest and live performance statistics
- News Catcher Pro enters the market at a certain time shortly before a high-impact news event occurs.
- News Catcher Pro does not use martingale or grid, each trade protected by a stop loss.
- Multiple currency pair support
- You only need one chart to trade all symbols
- News Catcher Pro comes with Advanced News Filter, Auto GMT detection and Self Diagnostic System.
- Drawdown control system
- Lot size control settings
- Fifo compliant.
- It has an advanced News filter settings.
News Catcher Pro supports GBPUSD, EURUSD, EURGBP but mostly recommends EURUSD on a H5 timeframe.
The robot required hedging account on a continuous VPS facility. ECN broker is preferable.
There are 4 Lot-sizing methods to choose from. When you choose a Predefined preset, the robot calculates risk automatically for you.
News Catcher Pro Result
The vendor did not provide a copy of the backtesting report. However, there is a link to a News Catcher Pro Extreme Risk signals account on MQL5. This account was hosted on the ICMarkets platform, started 29 weeks ago in 2021.
The algo trading account was started with an initial deposit of 30 AUD and have grown by 508%. Total net profits made was just 152.45 AUD over 57 trading days. Total account balance now is 182.45 AUD, no withrawal or deposit has been added.
The account shows an unacceptable drawdown of 68.3%.
Trading statistic shows about 82 completed trades. Best trade was 15.38 AUD while the worst trade was -38.55 AUD. Average profits was 2.75 AUD where as the average loss was -33.58 AUD.
The robot does not trade frequently, the total trades per week is 6 and the average trade holding time is 2days.
The vendor of the News Catcher Pro robots wants us to believe that the robot can identify patterns necessary for profitable news trading.
Their live trading account shows that the average losses far exceed average profits. This means that the EA accumulates small profits with huge losses that results in a very high drawdown%.
The robot needs to accumulate far more profitable trades in order to compensate for a loosing trade.